Forex encyclopedia

Elliot Wave Theory as mathematical theory about identifiable models determining behavior of society or financial markets was offered by Ralph Nelson Elliot in 30-s of 20th century. Elliot distinguished eight models that are regularly repeated. At present, one can say that results of Elliot's observations for market are “fractal”, but this term came later from theory oh chaos, although Elliot defined that theory by describing components of wave theory and their interrelation. The first book of Ralph Elliot “The Wave Principle” came off the press in 1938. Then in the beginning of 1939 Elliot write 12 articles by order of “Financial world” magazine and in 1946 year he united all his works in the final writings “Nature’s Law — The Secret of the Universe”, and this books becomes the best of his works.

The foreign exchange market itself experienced a rapid growth in the early decades of the 70s. As for the cause of the foreign exchange market is growing rapidly, among others are: 1. Movements in foreign exchange rates that experienced significant movement so that it appeals to certain circles to engage in the foreign exchange market. 2. Businesses are getting more global. As business competition gets bigger, companies need to find new resources that are cheaper, and spread all over the world, causing demand for the currency of a particular country. 3. The rapid development of telecommunications in the presence of telephone, telex, fax, internet, has made it easier for market participants to communicate, making transactions easier. 4. Gains earned in the foreign exchange market tend to increase the desire of various parties trying to gain a gain (profit) from the movement of foreign exchange rates.

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Forex encyclopedia

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